Board of Directors Approves Increase in Quarterly Cash Dividend to $0.20
per Share
TOLEDO, Ohio--(BUSINESS WIRE)--
Owens Corning (NYSE: OC) today announced that its Board of Directors has
declared a quarterly cash dividend of $0.20 per common share, an 11%
increase compared with the prior quarterly dividend. The dividend will
be payable on January 18, 2017, to shareholders of record as of January
3, 2017.
"The dividend increase demonstrates our confidence in the company's
financial outlook and cash generation capability, as well as our
commitment to enhancing shareholder value," said Chairman and Chief
Executive Officer Mike Thaman.
Future dividend declarations will be made at the discretion of the Board
of Directors and will be based on such factors as the company's
earnings, financial condition, cash requirements, future prospects and
other factors.
About Owens Corning
Owens Corning (NYSE: OC) develops, manufactures, and markets insulation,
roofing and fiberglass composites. Global in scope and human in scale,
the company’s market-leading businesses use their deep expertise in
materials, manufacturing and building science to develop products and
systems that save energy and improve comfort in commercial and
residential buildings. Through its glass reinforcements business, the
company makes thousands of products lighter, stronger and more durable.
Ultimately, Owens Corning people and products make the world a better
place. Based in Toledo, Ohio, Owens Corning posted 2015 sales of $5.4
billion and employs about 16,000 people in 25 countries. It has been a
Fortune 500® company for 62 consecutive years. For more
information, please visit www.owenscorning.com.
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. These forward-looking statements
are subject to risks, uncertainties and other factors, and actual
results may differ materially from those results projected in the
statements. These risks, uncertainties and other factors include,
without limitation: relationships with key customers; levels of
residential and commercial construction activity; competitive and
pricing factors; levels of global industrial production; demand for our
products; industry and economic conditions that affect the market and
operating conditions of our customers, suppliers or lenders; domestic
and international economic and political conditions, including new
legislation or other governmental actions; foreign exchange and
commodity price fluctuations; our level of indebtedness; weather
conditions; availability and cost of credit; availability and cost of
energy and raw materials; issues involving implementation and protection
of information technology systems; labor disputes; legal and regulatory
proceedings, including litigation and environmental actions; our ability
to utilize our net operating loss carry forwards; research and
development activities and intellectual property protection; interest
rate movements; uninsured losses; issues related to acquisitions,
divestitures and joint ventures; achievement of expected synergies, cost
reductions and/or productivity improvements; defined benefit plan
funding obligations; and, factors detailed from time to time in the
company’s Securities and Exchange Commission filings. The information in
this news release speaks as of December 2, 2016, and is subject to
change. The company does not undertake any duty to update or revise
forward-looking statements except as required by federal securities
laws. Any distribution of this news release after that date is not
intended and should not be construed as updating or confirming such
information.
Owens Corning Investor Relations News
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Source: Owens Corning